Exelon Announces Retirement of Chief Investment Officer Doug Brown
01 March 2024 - 3:00AM
Business Wire
Jessica Hart, Exelon’s VP of Investment
Strategy to be promoted to SVP and chief investment officer
Exelon (Nasdaq, EXC) announced today the retirement of Doug
Brown, senior vice president and chief investment officer. Upon
Brown’s retirement on July 1, 2024, Jessica Hart, currently
Exelon’s vice president of Investment Strategy and Public Markets,
will be promoted to senior vice president and chief investment
officer. Hart will lead the team responsible for managing all of
Exelon’s investment activities including pension funds, defined
contribution plans and other employee benefit trusts.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240229648188/en/
Doug Brown, Exelon senior vice president
and chief investment officer (Photo: Business Wire)
Brown joined Exelon in November 2009 as chief investment
officer. He and his team were responsible for managing $52 billion
in assets across multiple trusts prior to the company’s separation
from Constellation, including pension funds, defined contribution
trusts, other employee benefit trusts and the nuclear
decommissioning trust funds. Brown and his team created incredible
value at Exelon, garnering $30 billion in investment returns across
all asset pools under management during his tenure. In 2022, Brown
was instrumental in creating and launching Exelon’s Community
Impact Capital Fund, which aims to provide more economic
opportunities to businesses in under-resourced communities within
Exelon’s footprint. He was also involved in the creation of the
company’s Women and Minority-Owned Investment Manager Initiative.
Brown was a member of Exelon’s Corporate Investment Committee and
Exelon Foundation’s Board of Directors.
“It is rare and remarkable to work alongside someone who is
considered an icon in the field,” said Exelon Chief Financial
Officer Jeanne Jones. “It was a privilege to have Doug at Exelon.
Beyond his contributions to the business, Doug has left a lasting
impression on everyone who has had the honor of working with
him.”
Brown has a litany of professional accomplishments including
being named to Chief Investment Officer magazine’s “Power 100” list
of most influential asset owners from 2013-2023. In 2022, Doug
received a Lifetime Achievement Award from Institutional Investor.
Brown’s professional legacy also includes mentoring several
employees who have gone on to become chief investment officers,
attributing their success to Brown’s leadership and guidance.
Prior to his more than a decade of accomplishments with Exelon,
Brown was chief investment officer at Chrysler LLC with
responsibility for all asset management activities globally,
totaling $30 billion. Brown is a member of the Economic Club of
Chicago and is on the Board of the Committee on Investment of
Employee Benefit Assets (CIEBA) in Washington, DC. From 2018 to
2020, he served as Chairman of the CIEBA Board of Directors. Doug
also serves on the Board of Trustees of the Goodman Theatre in
Chicago and as an Independent Trustee and Board Chair for the
National Railroad Retirement Investment Trust in Washington, DC.
From 2013 to 2015, Doug served on the Board of the CFA Society of
Chicago and from 2020 to 2023, he served on the Board of Directors
of the William G. McGowan Charitable Fund.
Jessica Hart joined Exelon as vice president, Investment
Strategy and Public Markets in July 2022, bringing with her
extensive experience in asset allocation, liability driven
investing, manager selection, due diligence and portfolio
construction. Prior to Exelon, Hart held a range of leadership
roles at Northern Trust Asset Management including leading the
company’s Outsourced Chief Investment Officer (“OCIO”) Retirement
Assets Practice advising corporate, public and multi-employer
plans. Hart was actively involved in diversity initiatives in the
Multi-Manager Solutions business at Northern Trust Asset Management
and led the development of a manager diversity due diligence
framework. Hart is on the Board of Youth Guidance, a non-profit
providing school-based group counseling and mentoring to 7th-12th
grade young men and women and holds a B.S. in Economics from the
University of Wisconsin, Madison, and an MBA from New York
University’s Stern School of Business.
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 250 company and the nation’s
largest utility company, serving more than 10.5 million customers
through six fully regulated transmission and distribution utilities
— Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE),
Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO
Energy Company (PECO), and Potomac Electric Power Company (Pepco).
More than 19,500 Exelon employees dedicate their time and expertise
to supporting our communities through reliable, affordable and
efficient energy delivery, workforce development, equity, economic
development and volunteerism. Follow Exelon on X, formerly known as
Twitter, @Exelon.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240229648188/en/
James Gherardi 312-394-7417 Media Hotline
James.Gherardi@exeloncorp.com
Exelon (NASDAQ:EXC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Exelon (NASDAQ:EXC)
Historical Stock Chart
From Apr 2023 to Apr 2024